Pool Corp. posts record third-quarter profit

Pool Corp. posts record third-quarter profit

Covington-based Pool Corp. reported third-quarter earnings jumped to $32.3 million, or a record 68 cents per share, compared to $21.4 million, or 45 cents per share, a year earlier.

The company is a wholesale distributor of swimming pool supplies, equipment and related products, with more than 3,400 employees and over 300 locations worldwide.

“As the 2013 season came to a close, we realized solid sales and gross profit growth, leading to record third-quarter results,” said Manuel Perez de la Mesa, Pool’s president and chief executive officer.

More normal weather conditions during the third quarter also helped generate strong demand for products in Pool’s seasonal and year-round markets, he said.

Pool’s sales for the quarter increased 10 percent to a record $578.2 million, compared to $528.0 million in the third quarter of 2012.

Despite the record sales and profit, Pool fell a little short of stock analysts’ expectations. Analysts surveyed by Thomson Reuters had forecast earnings of 72 cents per share on $569.3 million in sales.